PHNOM PENH, Aug. 14 (Xinhua) -- Cambodia's insurance
industry reported a total premium of nearly 27 million U.S. dollars in
the first six months of this year, up 21 percent over the same period
last year, an official report showed Thursday.
The
main sources of the premium were from the insurances of fire,
engineering, marine cargo, vehicles, health, and personal accident, said
the report of the General Insurance Association of Cambodia (GIAC).
GIAC's
President Huy Vatharo said the growth clearly showed better economic
situation and more awareness of insurance advantages among the public.
"Insurance
sector is now playing a very important role to build investors
confidence in their businesses," he said. "We expect a better growth in
the second half of this year."
The Southeast Asian nation has nine insurers including six general insurance firms and three life insurers.
In
June, the Parliament passed the insurance law aimed at ensuring the
sustainability and accountability in the nascent industry.
Under the law, to open an insurance company, the insurer must have the minimum capital of 7 million U.S. dollars.
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